Loan Comparison: 3.45% vs 6.5%
15131 Gaylord, Thornton, CO 80602 · 4bd/3ba · $730,000
List Price
$730,000
Assumable Rate
3.45%
Remaining Balance
$542,015
Equity Gap
$187,985
Loan Type
FHAAdjust Your Scenario
$36,500
$36,500$187,985
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.45% (FHA)
Blended Rate: 4.55%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,383/moAssumable @ 3.45% + gap loan
$3,584/moAssumed loan: $2,419/mo
Gap financing: $1,165/mo
$800less per month with the assumable
Your Savings on This Property
15131 Gaylord, Thornton · 3.45% FHA vs 6.5% conventional
$800
per month
$9,598
per year
$287,934
over 30 years
$287,934
interest saved
How gap financing works: The equity gap ($187,985) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($36,500, 5% of purchase price) and a second mortgage for the rest ($151,485 at 8.5%). Even with two payments, the blended cost is typically much lower than a new conventional loan. We work with lenders who specialize in assumption gap financing.
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